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Even if the insured losses from the Chile earthquake fall in the mid-range of current estimates of between US$ 2 billion and US$ 8 billion, it will outpace Hurricane Wilma as the most expensive insured event in Latin America's history, according to a release by reinsurance broker Cooper Gay

Having now dispatched personnel to review the damage, and beginning to receive reports from their largest insureds, Chile's insurers have raised their estimate of insured losses from US$ 2.6 billion to $US 4 billion

As the insurance industry mobilizes in response to the fifth largest earthquake on record, our thoughts remain with our friends, business associates and everyone else impacted by the devastation in Chile

Chile's largest insurer, Seguros Chile, the local subsidiary of Britain's Royal Sun Alliance, has estimated that the total property damage from the recent earthquake covered under its policies will total US 45 million (33 million Euros, 30 million British Pounds